HASSOUNA &ABOU
ALI

Attorneys
At LawCairo, Egypt

Legal
Bulletin

Introducing Security Interests in Movable Assets

9/2/2009

Ministry of Investment is studying a proposal to introduce a law regulating the granting of security interests in movable assets whereby the new law creates an official record to register security interests granted over movable assets. Current rules require possession by the creditor of the movable assets in order to perfect the security interests. The new proposal is expected to lift this requirement. The new recording system will likely resemble that of security interest over real estate assets.